Neonode Inc. Files 10-Q for Period Ended March 31, 2024

TL;DR

<b>Neonode Inc. has filed its quarterly report for Q1 2024, confirming compliance with SEC filing requirements.</b>

AI Summary

Neonode Inc. (NEON) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Neonode Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024. The company is incorporated in Delaware and its fiscal year ends on December 31. Neonode Inc. is registered with the SEC under file number 001-35526. Its common stock trades on The Nasdaq Stock Market LLC under the symbol NEON. The company has confirmed it has filed all required reports for the preceding 12 months and has submitted all Interactive Data Files.

Why It Matters

For investors and stakeholders tracking Neonode Inc., this filing contains several important signals. This filing provides an update on Neonode's financial performance and operational status for the first quarter of 2024. Investors and stakeholders can review the report for insights into the company's current financial health and strategic direction.

Risk Assessment

Risk Level: low — Neonode Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant negative disclosures.

Analyst Insight

Monitor future filings for detailed financial results and operational updates from Neonode Inc.

Key Numbers

• 2024-03-31 — Quarterly Period End Date (The report covers the period ending on this date.)
• 001-35526 — SEC File Number (Neonode Inc.'s SEC file number.)
• NEON — Trading Symbol (Symbol for Neonode Inc. common stock on Nasdaq.)
• 2024-05-08 — Filing Date (Date the 10-Q was filed.)

Key Players & Entities

• Neonode Inc. (company) — Registrant name
• March 31, 2024 (date) — Quarterly period ended
• 001-35526 (other) — Commission File Number
• NEON (ticker) — Trading Symbol
• The Nasdaq Stock Market LLC (company) — Exchange where common stock is registered
• Delaware (jurisdiction) — State of incorporation
• December 31 (date) — Fiscal year end
• 20240508 (date) — Filing date

FAQ

Industry Context

Neonode Inc. operates in the technology sector, likely focusing on sensor technologies or related electronic components.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies, including quarterly (10-Q) and annual (10-K) filings.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements.
2. Analyze any management discussion and analysis (MD&A) sections for operational insights.
3. Track future SEC filings for ongoing company performance and disclosures.

Key Dates

• 2024-03-31: Quarterly Period End — Marks the end of the reporting period for the 10-Q filing.
• 2024-05-08: Filing Date — The date Neonode Inc. submitted its 10-Q to the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, following the 2023 annual report.

Key Financial Figures

• $0.001 — ich registered Common Stock, par value $0.001 per share NEON The Nasdaq Stock Market

Filing Documents

• ea0204774-10q_neonode.htm (10-Q) — 600KB
• ea020477401ex31-1_neonode.htm (EX-31.1) — 10KB
• ea020477401ex31-2_neonode.htm (EX-31.2) — 10KB
• ea020477401ex32_neonode.htm (EX-32) — 5KB
• 0001213900-24-040663.txt (&nbsp;) — 4416KB
• neon-20240331.xsd (EX-101.SCH) — 49KB
• neon-20240331_cal.xml (EX-101.CAL) — 36KB
• neon-20240331_def.xml (EX-101.DEF) — 204KB
• neon-20240331_lab.xml (EX-101.LAB) — 372KB
• neon-20240331_pre.xml (EX-101.PRE) — 200KB
• ea0204774-10q_neonode_htm.xml (XML) — 535KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION 1 Item 1

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets as of March 31, 2024 (Unaudited) and December 31, 2023 (Audited) 1 Unaudited Condensed Consolidated Statements of Operations for the three months ended March 31, 2024 and 202 3 2 Unaudited Condensed Consolidated Statements of Comprehensive Loss for the three months ended March 31, 2024 and 202 3 3 Unaudited Condensed Consolidated Statements of Stockholders' Equity for the three months ended March 31, 2024 and 202 3 4 Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 202 3 5 Notes to Unaudited Condensed Consolidated Financial Statements 6 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 31 Item 4

Controls and Procedures

Controls and Procedures 31

OTHER INFORMATION

PART II OTHER INFORMATION 32 Item 1

Legal Proceedings

Legal Proceedings 32 Item 1A

Risk Factors

Risk Factors 32 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 5 Other Information 32 Item 6 Exhibits 32

SIGNATURES

SIGNATURES 33 EXHIBITS i

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements NEONODE INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share amounts) March 31, December 31, 2024 2023 (Unaudited) (Audited) ASSETS Current assets: Cash and cash equivalents $ 14,274 $ 16,155 Accounts receivable and unbilled revenues, net 1,072 917 Inventory 487 610 Prepaid expenses and other current assets 760 938 Total current assets 16,593 18,620 Property and equipment, net 294 340 Operating lease right-of-use assets, net 34 54 Total assets $ 16,921 $ 19,014 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 491 $ 440 Accrued payroll and employee benefits 1,021 941 Accrued expenses 205 354 Contract liabilities 82 10 Current portion of finance lease obligations 29 33 Current portion of operating lease obligations 34 54 Total current liabilities 1,862 1,832 Finance lease obligations, net of current portion 12 19 Total liabilities 1,874 1,851 Commitments and contingencies Stockholders' equity: Common stock, 25,000,000 shares authorized, with par value of $ 0.001 ; 15,359,481 shares issued and outstanding at March 31, 2024 and December 31, 2023 15 15 Additional paid-in capital 235,160 235,158 Accumulated other comprehensive loss ( 430 ) ( 396 ) Accumulated deficit ( 219,698 ) ( 217,614 ) Total stockholders' equity 15,047 17,163 Total liabilities and stockholders' equity $ 16,921 $ 19,014 The accompanying notes are an integral part of these condensed consolidated financial statements. 1 NEONODE INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (Unaudited) Three months ended March 31, 2024 2023 Revenues: License fees $ 773 $ 1,148 Products 200 102 Non-recurring engineering 41 3 Total revenues 1,014 1,253 Cost of revenues: Products 380 47 Non-recurring engineering 17 - Total cost of

View Full Filing

View this 10-Q filing on SEC EDGAR